The recent crypto market downturn has hit many altcoins hard, with Rollbit Coin (RLB) plunging 35% to $0.15 over the last 30 days. However, one analyst believes RLB and another overlooked gem still have significant upside potential heading into 2024.
Let’s explore what’s happening with RLB, Frax Share (FXS), and the emerging Bitcoin Minetrix project.
RLB – Is This Bull Cycle’s Next 100X?
Cryptonary, a crypto analyst with over 60k followers, recently posed the question – “Is Rollbit dead, or is this bull cycle’s next 100X?” He then provided some insightful analysis.
In the last two weeks, two anonymous whales dumped over $18 million worth of RLB tokens, causing prices to nosedive. The first whale cashed out his entire 34 million RLB wallet for $6.12 million. At the same time, the second whale offloaded 80.15 million RLB across two wallets for $11.55 million.
Cryptonary suggests not jumping to conclusions: ”Before we get too pessimistic, let’s assess some facts – 1. Neither whale is an insider or part of the Rollbit team. 2. Most importantly, Wallet 2 was not emptied completely. In fact, this whale is buying back in as we speak.”
Therefore, it seems the whales took profits around RLB’s $0.18 highs. As early investors, this is understandable. The fact that one whale is repurchasing RLB suggests strong fundamentals remain. Cryptonary sees the dip to $0.15 as a buying opportunity.
FXS – Institutions Stockpiling This Overlooked Token
Cryptonary also highlighted that major crypto funds like Amber Group and DragonFly Capital recently bought over $16 million in FXS tokens. Perhaps they know something regular investors don’t?
Here’s the key info – on December 20 each year, FXS token emissions get cut in half while demand often surges. This market mechanics quirk caused FXS prices to skyrocket after last year’s halving event.
Combine this supply shock with Frax’s strong technical fundamentals, and FXS looks primed for fireworks leading into 2024, according to Cryptonary.
Bitcoin Minetrix – An Innovative Way to Earn BTC
With most altcoins still struggling to hold key support levels, some investors may seek alternatives with more stability and upside potential. One emerging project catching significant buzz is Bitcoin Minetrix (BTCMTX).
BTCMTX has already raised over $5.1 million in its ongoing presale ICO, making it a third of the way to its $15 million soft cap. The project introduces an innovative “Stake-to-Mine” model that allows users to earn BTC by staking their BTCMTX tokens.
Popular YouTuber No Bs Crypto recently released a video analysis of Bitcoin Minetrix, speculating it could be “100x” in value. But what makes this new ecosystem unique?
The main innovation is the Stake-to-Mine concept. Traditionally, Bitcoin mining requires powerful hardware and cheap energy to be profitable. However, Bitcoin Minetrix turns this model on its head.
According to the whitepaper, BTCMTX token holders can stake their coins to generate “mining credits” over time. These credits can then be exchanged for cloud mining power, removing the need for expensive equipment.
This straightforward approach helps democratize Bitcoin mining for regular crypto enthusiasts. Anyone can participate and earn passive income. Additionally, the staking pool offers yields of 119% per year, creating a dual income stream.
To celebrate surpassing $5 million raised in its ongoing presale ICO, the Bitcoin Minetrix team has announced an exciting Christmas competition for the community. Participants can create a unique graphic, image, or video with a Bitcoin Minetrix holiday theme and share it on Twitter.
To enter, tweet your creation, tag the @BitcoinMinetrix account, and include the hashtag #BTCMTXCOMP. The Bitcoin Minetrix team will judge the top 3 most creative submissions, and the winners will receive cash prizes.
This festive contest adds to the growing momentum and hype surrounding the ambitious Bitcoin Minetrix project. With the innovative Stake-to-Mine concept empowering anyone to earn passive crypto income, BTCMTX aims to democratize Bitcoin mining, leading to the much-anticipated 2024 halving event.
Conclusion
While market headwinds persist in the short term, forgotten gems like RLB and FXS may offer 10-100X return potential, according to experts like Cryptonary. Meanwhile, fresh projects such as Bitcoin Minetrix are building innovative Web3 infrastructure for the future.
With strong tokenomics and dual income streams from staking and mining, BTCMTX has quickly attracted backing and could be an ascendant star to watch.
Disclaimer
This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project guidelines for unbiased and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to verify information independently and consult with a professional before making decisions based on this sponsored content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
